SMAC, the acronym for social, mobile, analytics and cloud, is the concept that there are four technologies at the helm of innovation in modern businesses.SMACdevelops an ecosystem that enables businesses to enhance their operations and maximize their reach to the customers with minimal overhead. Also, the fusion of these four wings unleashes a surge of new ideas for business innovations regarding workflows, methodologies, services and products. In short, SMAC technology is a comprehensive and single tool that provides a holistic solution for businesses.
SMAC: THE FACTSHEET
• 76% businesses use social media for business objectives.
• Over 1 billion social media subscribers globally.
• Already disrupting traditional models of marketing and selling.
• Facebook, Twitter and Linkedin among the most popular social media firms.
• 72% opinebetter productivity driving factor in adoption of smart mobile devices.
• Industry is shifting from the PC/laptop to mobile devices.
• 4.5 billion mobile subscribers globally.
• Spread of affordable 3G and 4G networks driving the growth of mobile apps.
• 75% of executives are working to increase their company’s use of analytics.
• Every year, companies and individuals generate billions of gigabytes of data.
• Companies which analyze and glean insights from this data can emerge as leaders.
• Holds tremendous potential across industries like financial services and retail.
• 92% businesses satisfied with their cloud based services and will up usage.
• Has potential to foster innovations and improve productivity across industries.
• Everything from enterprise applications to our music is now using the cloud.
• Can emerge as a tool for making computing affordable in developing world.
Transformation in Enterprises
Enterprises in the post-digital era have little option but to adapt to and adopt the latest realities. Today’s consumers are digital-oriented and are utilizing mobility and social media to chart their course in various segments. SMAC is responsible for this rapid change in dynamics and the way the marketplace functions.
In this scenario, if a business is not ‘digital’ it has to ready itself for some tough times ahead. SMAC has created a situation wherein companies cannot do with a robust digital strategy.
With a sea change in the evolution of customers and their preferences, a multi-pronged approach that encompasses an integrated strategy is a crucial need. The ability to cruise seamlessly through the larger enterprise ecosystem and varied channels is a must.Further, social channels hold immense potential to monetize demand andthereby better the outcomes of marketing campaigns.In addition, enhanced product development can impact consumer engagement thus driving multi-channel commerce.
Two words―Big data―are on everyone’s lips these days, because that is how inherent it is for future business initiatives. It has been speculated that this year Big data will cease to be a separate objective and instead, move on to transform itself into a fundamental part of every online and mobile proposal that will enable various trends to see the light of day.
In order to completely utilize and make sense of the wealth of collected insights and data at their disposal, businesses should harness the value to drive applications and provide even more personalized experiences, targeted information, stimulating offers and context aware services.
Fundamentals of SMAC
The emergence of new technologies over the past few years has resulted in a sea change in the world around us. There have been various phases at play in this journey: Beginning with the rise of social media and the resultant subscriber base that is now in excess of a billion globally;the extraordinary penetration levels of mobile phones; and finally, the advent and amazing burst of Big data and analytics. One must not forget the major effect cloud computing has had in the world around us.
Social covers a gamut of methods and means by which consumers converse with each other, through online platforms. These include community, cluster, collective, gathering, combined presence, schmoozing and so on. Fundamentally, it means that social networking is the basis of connectivity, be it on a local or global scale. The multi-channel approach is one of the pivotal reasons that drive this acceptability and reliability among users—with the Internet serving as the cornerstone.
Mobile has taken center-stage in a manner that is unexpected, as it is unprecedented. Consumers flock to the mobile as a channel of choice to access data on myriad subjects. It is their lifeline, in more ways than one. For that matter, the allure of Mobile has not diminished in isolated communities throughout the developing markets. Even in places where there is no proper Internet connectivity, users utilize feature phones for marginal communication activities.
Analytics is defined as the methodical and efficient examination and study of available data and information. Information abounds everywhere in our fast-paced world. Analytics makes broad usage of mathematics and statistics to transform raw information into significant and actionable data. And yet, not every bit of this information can be used, in the available form, for decision making. Also, analytics often favors data visualization to communicate insight.
All enterprises store vast amounts of information. But all this data is of no value if not analyzed and accessed appropriately (or adequately). The challenge then, for organizations is to create value by leveraging analytics as an important tool.
The pace at which this transformation is occurring is driven mainly by the coming together of many trends such that the result is increase in data and cheaper but faster hardware. But let’s not forget that analytics is nothing new, especially for companies that have been managing transactional data for decades. Now, the shift is amply visible—we are transitioning from the traditional analytics model to predictive analytics.
Cloud computing refers to the practice of transitioning computer services such as computation or data storage to multiple redundant offsite locations available on the Internet, which allows application software to be operated using internet-enabled devices. There are a few classifications of cloud which are: public, private, and hybrid.
Insofar as the SMAC framework is concerned, cloud has opened up a flood of opportunities. A cloud centered infrastructure offers facilities from anywhere utilizing any machine at a far lesser usage rate.
Further, cloud computing offers a plethora of advantages including the usage of latest technologies, improving the ability of users to re-provision technological infrastructure resources, increase in performance and productivity and more.
The ability to utilize software facilities at lesser rates, devoid of any investment of capital catapults cloud as a much sought-after choice for enterprisesto consider. Also, cloud offers much more than mere cost cutting, it is also about invention, entree to modern tools, on-demand availability and ability to scale-up and down based on requirement.
There is no doubt that SMAC will change the face of business even more as we progress. Already, organizations are beginning to realize rich rewards as the technology has enabled them to achieve better profits owing to its worldwide acceptance; low overheads and increased usage and availability.
Little wonder then that estimates by industry experts state that companies will leverage at least one SMAC technology in the months and years ahead.
Moreover, SMAC is expected to rake in billions of dollars in the future. The International Data Corporation (IDC)estimates that global ICT spend will touch the US$5 trillion mark by 2020 spearheaded by SMAC.
Orchestrate is a US based business process management organization with Headquarters in Dallas, Texas. Orchestrate offers services to the diverse outsourcing requirements of clients in an extensive range of businesses including IT, finance, mortgage and contact center.